EUROPE K-BEAUTY PRODUCTS MARKET FORECAST 2023-2032

The United Kingdom, Germany, France, Italy, Spain, Belgium, Poland, and Rest of Europe are considered for the Europe K-beauty products market growth analysis. The United Kingdom ranks among the top three consumers of cosmetics in Western Europe. The cosmetics industry in the country experienced a significant boom in 2017, with the market’s value reaching a significant $13.30 billion. However, over the next two years, the market value witnessed a slight decline compared to the preceding rates. Despite this leveling off in the cosmetics sector as a whole, various other categories of cosmetic products continued to thrive in the United Kingdom. This growth was particularly evident in the skincare segment, which has garnered increased attention over recent years due to the introduction of new product ranges. 

On the other hand, the cosmetics industry in Germany is undergoing significant transformations, giving rise to novel trends. Aligning with this, the consumer expenditure on beauty & personal care products has witnessed a substantial shift since the onset of the pandemic. Following a minor dip in 2021, Germany made a strong comeback in 2022, reaching an estimated €18.5 billion in terms of retail sales for beauty & personal care. Furthermore, the convenience offered by online retailers has continued to persist beyond the pandemic lockdowns, with brands expected to invest in expanding their online presence. While K-beauty products have been available virtually and in German stores, a significant change in the current market scenario involves the proliferating presence of both international and local brands aiming to leverage this trend. Therefore, such factors are set to boost the Europe K-beauty products market growth during the forecast period. 

The Europe K-beauty products market is segmented into gender, product type, and distribution channel. The product type segment includes skincare, body care, and makeup. Korean culture, characterized by its emphasis on beauty, health, and well-being, along with a deep inclination toward technology and innovative packaging designs, has propelled the Korean cosmetic industry into a global trendsetter. Likewise, Korean body care extends the same nurturing practices applied in daily K-beauty facial routines to include the entire body.

In this regard, K-beauty body care masks are strategically formulated to target specific areas of the body with enriching and nourishing ingredients. Additionally, an array of luxurious body oils, creams, and moisturizers are also designed to address specific skin concerns, offering comprehensive skincare solutions for achieving supple and well-hydrated skin.

The top players operating in the Europe K-beauty products market are CosRX, Holika Holika, etc.

CosRX, headquartered in the Republic of Korea, is a multinational company engaged in the distribution and manufacturing of specialty K-beauty products. Its popular cosmetic categories include exfoliators, cleansers/makeup removers, toners, moisturizers, patches/spot treatments, and masks/packs. With a focus on manufacturing organic products for skin care, the company offers a diverse range of natural products such as Natural BHA Skin Returning A-sol as well as aloe vera oil-free moisture cream. The company’s products are primarily sold via e-commerce platforms and international market chains.